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"id": 1344305,
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"type": "speech",
"speaker_name": "Suba South, ODM",
"speaker_title": "Hon. Caroli Omondi",
"speaker": null,
"content": " Thank you very much, Hon. Temporary Chairman. I think we are not understanding that the concept of fit and proper is in law. Fit and proper is a financial test for individuals and not corporates. This is because the license applicant for milling could be a company registered yesterday and there would be no track record to determine fit and proper. So, it cannot be fit and proper. That is why I was proposing in the amendments that it should be ‘financially sound and solvent’, which is something you can test and prove. Being ‘fit and proper’ is a test for individuals who want to be directors in financial institutions, but not corporates. It is the wrong concept here."
}